Who Is The Trading Pit?
The Trading Pit is a proprietary trading firm registered under the name The Trading Pit Challenge GmBH. It was incorporated in February 2022 and has its headquarters in Vaduz, Liechtenstein. The firm also has other locations in Limassol, Cyprus, Alcobendas, and Madrid all managed by CEO Thomas Heyden.
The Trading Pit is partnered with FXFlat and GBE Brokers as their broker to provide traders with a conducive environment for trading.
The Trading Pit is headquartered in Landstrasse, 63 9490 Vaduz, Liechtenstein.
The Trading Pit’s CFD challenge identifies talented and disciplined traders capable of managing account sizes ranging from $10,000 to $100,000. The goal of the program is to maintain profitability and effectively manage risk throughout the evaluation period. The CFD challenge also provides leverage of up to 1:20 to trade with.
Here is how it goes:
For most account sizes, traders are required to reach a profit target of 10%. However, for the $100k account, you are expected to hit a profit target of 8% without surpassing the 5% maximum daily or 10% maximum loss rules. There are time limitations for all account sizes and you have 90 calendar days to complete the evaluation phase successfully. In addition, the $10,000 and $20,000 accounts have a trailing drawdown while the $50,000 and $100,000 accounts have a static drawdown.
Once the evaluation phase is completed, you’ll receive a funded account. However, the rules present in the evaluation stage still apply here. There is an 8% or 10% profit target depending on your account size and you must respect the 5% maximum daily loss and 10% maximum trailing loss rules. If you are managing a $10,000 or $20,000 account, your first payout will be released when you hit the required 10% profit target. For larger accounts like the $50,000 or $100,000 account, your first payout will be released when you hit the 8% profit target. Future payouts follow the same requirements.
In addition, your profit split can be increased from 50% to 80% depending on how profitable you are and your initial account size. Also, The Trading Pit provides ample opportunities for traders to scale their account. The scaling plans include:
CFD Challenge Scaling Plan
The scaling plan ranges from $500,000 to $5,000,000 depending on your trading account size. However, it is necessary to meet the 8% or 10% profit target assigned to your account before you can access the scaling plan.
Lite Scaling Plan
Standard Scaling Plan
Executive Scaling Plan
VIP Scaling Plan
CFD Challenge Trading Rules & Objectives
- Profit Target: Traders must achieve the profit percentage designated to their account sizes. For $10,000 or $20,000 accounts, the profit percentage to meet is 10%. For $50,000 or $100,000 accounts, the specified profit target is 8%. The same requirements apply for both the evaluation phase and funded accounts.
- Maximum Daily Loss: The $50,000 and $100,000 accounts have a maximum loss limit of 10%. If it is surpassed, then the account will be breached.
- Maximum Loss: The maximum loss on the $50,000 and $100,000 accounts is 10%.
- Maximum Trailing Loss: Maximum trailing loss is the difference between the highest achieved account balance and the lowest drawdown. The maximum trailing loss for the $10,000 and $20,000 accounts is 10%.
- Minimum Trading Days: There is a minimum time period you must trade before successfully concluding the evaluation phase. The evaluation phase has a minimum trading day requirement of 3 days.
- Maximum Trading Period: The evaluation stage has a maximum trading period of 90 days during which you must reach your designated profit percentage to successfully proceed to a funded account.
- No News Trading: The Trading Pit does not allow trading when high-impact news is released due to the increased volatility in the market. This means that executing new trades or closing old ones is not permitted within the 2-minute period before or after the announcement of such news.
What Makes The Trading Pit Different From Other Prop Firms
The Trading Pit sets itself apart from other major prop trading firms with its unique offerings and convenient environment for trading. There is only a one-step evaluation which has to be successfully completed within 90 calendar days to be eligible for a funded account and payouts.
For most account sizes, traders are required to reach a profit target of 10%. However, for the $100k account, you are expected to hit a profit target of 8% without surpassing the 5% maximum daily or 10% maximum loss rules. There are time limitations for all account sizes and you have a minimum trading requirement of 3 days and a maximum trading requirement of 90 calendar days to complete the evaluation phase successfully. In addition, the $10,000 and $20,000 accounts have a trailing drawdown while the $50,000 and $100,000 accounts have a static drawdown.
Once you receive the funded account and show that you can be consistently profitable, then you can grow your account using the available scaling options and you can scale up to $5,000,000.
It partners with both FXFlat and GBE Brokers to provide first-class services to traders. Traders can trade with a wide spectrum of asset classes and financial instruments and enjoy extensive banking and financial experience that the two brokers provide.
The Trading Pit stands out from other prop firms due to its unique account type, realistic profit and risk trading requirements. The Trading Pit offers profitable traders more room to grow with its scaling options and trading tools.
Is Getting The Trading Pit Capital Realistic?
Before trading with a prop firm, it is important to access its features and trading requirements to determine if it aligns with your trading style and needs. If a company provides an attractive profit split but sets high trading costs and commissions, it reduces the possibility of growing your account exponentially. Time constraints are also an important factor to consider.
Flexibility in trading is essential because it takes the burden off an already stressful process. Moreover, the more time you have to trade, the easier it is to acquaint yourself with the trading rules of the firm.
Getting capital from The Trading Pit is realistic because:
The CFD challenge sets realistic profit targets (8% or 10% depending on your account size) coupled with average maximum loss rules (5% maximum daily and 10% maximum loss or 5% maximum daily and 10% maximum trailing loss). Note that there is a minimum trading day requirement of 3 days and a maximum trading day requirement of 90 calendar days.
Once the evaluation phase is completed, traders qualify for payouts and a profit split of 50% and up to 80% depending on how profitable they are. In addition, there is the opportunity to scale your account to up to $5,000,000 if you meet the profit target and maximum loss rules for the funded account.
With this in mind, The Trading Pit comes highly recommended in the prop trading industry. It is suitable for traders that want to avoid multiple evaluation stages before gaining access to a funded account. It is also desirable to talented traders that want access to a sizable amount of capital and a variety of financial instruments.
Payment Proof
The Trading Pit is a proprietary trading firm that was founded in February 2022. They have garnered a large community of traders who have successfully qualified for funded accounts and high profit splits. Upon reaching funded status, you become eligible for your first payout if you hit the 8% or 10% profit target. Subsequent payouts follow the same procedure with a profit split of up to 80% based on the profit you generate.
You can find multiple payment proof on numerous websites. Traders on The Trading Pit post their payment proof on Trustpilot. They also give comments regarding their experience with the company and how they have successfully received payouts.
You can also find payment proof on their Discord and YouTube channel where they post payouts and interviews with successful traders. On their Discord channel, you can also discuss with other traders on the features and programs The Trading Pit offers to get insight into what to expect.
Education
The Trading Pit prides itself on its extensive collection of educational resources and trading tools that can be found on its blog. These trading tools include:
- Ebooks
- Webinars
- Podcasts
- Videos
- Infographics
- Glossary
- Press Releases
- LiveSquawk
- StereoTrader
- Economic Calendar
- CME Heatmap
Plus, The Trading Pit offers a well-developed trading dashboard that makes it easy to keep up with your trading progress and real-time statistics. With these trading tools, traders can analyze the market and make well-informed decisions.
Trustpilot Feedback
The Trading Pit has succeeded in creating a platform that its traders have come to appreciate. Out of 297 reviews, The Trading Pit received an impressive rating of 4.4 out of 5 and 86% of those reviews were positive.
Users praise the platform for its unparalleled transparency and the simplicity of its rules allowing it to stand out from other proprietary trading firms. Traders are clear on what is expected of them and what they can expect to benefit from the platform. Clients also acknowledge its swift and cooperative customer service as issues are most times quickly resolved.
The Trading Pit offers a systemic approach to trading. In doing so, it ensures that a trader’s basic needs are met while providing room for them to explore their trading skills and expand their portfolio.
Customer Support
You can reach out to the prop firm through their 24/7 live chat feature or email at support@thetradingpit.com.
The platform also has a Discord and Telegram link where you can reach out to customer care or other successful traders on the platform.
Conclusion
The Trading Pit has built a reputation for itself as a trustworthy and credible platform. It offers different forms of trading such as futures trading which enables traders to experience different financial markets. It has succeeded in amassing a large community for itself based on its unique offerings and the convenience it offers traders. These features allow it to craft an identity different from other prop firms.
The Trading Pit offers the CFD Challenge as its only funding program. Yet, attention was put into making it a comprehensive program that most traders can get behind.
You can successfully manage accounts ranging anywhere from $10,000 to $100,000 if you get a funded account. There are realistic trading objectives considering that you have a 5% maximum daily and 10% maximum loss rules to follow coupled with average profit target.
There are time limitations but it still gives enough wiggle room for traders to adapt to the prop firm. It is also important to note that the CFD challenge features an impressive scaling plan that gives you access to up to $5,000,000 providing you with the opportunity to increase your account balance exponentially.
The Trading Pit, is a top-tier prop trading firm. It comes highly recommended to traders who do not enjoy a long evaluation process and still want access to substantial trading capital. The prop firm will put your trading skills to the test and help you move further along in your trading journey.
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